Ameriabank in numbers presented the results of the introduction of a  new online lending system

ArmInfo.For the first time in the financial market of Armenia, Ameriabank introduced a new and modern system of providing consumer loans, which operates on the  basis of machine learning / artificial intelligence algorithms.  According to the press service of the bank, the new system provides  customers with the opportunity to get a consumer loan more  conveniently and quickly.

Thanks to a comprehensive assessment of the creditworthiness of the client, the loan process is carried out with maximum accuracy. Indicators are automatically calculated based on the personal information of the client, his solvency, credit history  and other data.

Since November 2019, when Ameriabank just launched the system, it has  already been able to register significant results. In particular,  during this period, the bank issued 4824 consumer loans, which  contributed to the growth of the consumer portfolio by 33%. In  December, this indicator amounted to 7897 loans, with an increase in  the consumer portfolio by 35%. According to the report, the volume of  consumer loans issued under the new model in November-December  exceeded 3.7 billion drams, with an increase of 46%.

It is worth noting that since November 2018, the bank has  successfully launched a similar system for legal entities, in  particular for representatives of SMEs. The service successfully  continues to operate, providing businesses with the opportunity to  organize remotely the entire loan process, from filling out an  application to signing a loan agreement. 56% of retail business loans  today are approved and provided through this system. After the  introduction of the new model, the number of business borrowers  increased by 42%, the number of loans amounted to 1241 with a total  volume of 3.1 billion drams.

 "Ameriabank is constantly improving the system of remote customer  service, introducing new and modern mechanisms that will make service  faster, more flexible and more convenient," the source said.

To recall, Ameriabank is a universal bank offering corporate, retail  and investment services in a comprehensive package. Ameriabank has  been operating in the Armenian market since October 31, 1996.  The  shareholders of Ameriabank are Ameria Group CY Ltd. - 56.53%, EBRD -  17.78%, Asian Development Bank - 13.96%, ESPS Holding Limited -  11.73%.